S&P places Alere, debt on positive watch

Standard & Poor's placed its B corporate credit rating on Alere Inc., and all existing issue-level ratings on the company's debt, on CreditWatch with positive implications.

“The rating action is in response to the announcement that the company has accepted an acquisition offer by Abbott Laboratories for $5.8 billion. We expect Abbott to fund the transaction with debt and to assume or refinance Alere's debt upon completion of the deal,” said S&P credit analyst Maryna Kandrukhin in a news release.

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